Mint Morning Digest: Q1 GDP expectation, Tata Motors acquisition, JEE Main results and much more
4 min read 08 Aug 2022, 07:56 AM ISTAhead of market opening read top business news, equity market precursors, and economic and banking news updates from India and across the world for 8 August, 2022.
PremiumNew rules may pull rug out from India’s bid to boost bond market
India’s plan to expand its corporate bond market faces an unexpected impediment because the regulator is considering tightening control of trading platforms that allow investments in company debt in just a few clicks. Read more here
JEE Mains 2022: Result for session 2 exam out, Check here
The National Testing Agency (NTA) has declared the Joint Entrance Examination Mains 2022 (JEE Mains 2022) result for session 2 exam today, August 8. Candidates who appeared for the engineering entrance exam can check their results on the official website of NTA's JEE---jeemain.nta.nic.in. Read more here
Banks to remain closed for 6 days this week. Check full list here
If you have any important work related to the bank, then plan it accordingly keeping in mind the holidays this week. Banks will remain closed for six days in some cities on account of various holidays. Bank holidays are different for each state, however, there are some days when banks are closed across India. Read more here
Commonwealth Games 2022 Day 11: Details of India's full schedule here on closing day
With Indian athletes won 55 medals -- 18 golds, 15 silvers and 22 bronze-- at the Commonwealth Games 2022, the country stands now among the top five countries in terms of the medal tally. PV Sindhu, Lakshya Sen and the men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty will play in the finals in their respective badminton events. PV Sindhu will take on world No. 13 Michelle Li of Canada in the final on Monday, while Lakshya Sen will face Malaysian shuttler Tze Yong NG in the men's singles final final. Read more here
Opening soon: Delhi to Kashmir route, comprising world’s tallest railway bridge
The Central government and Indian Railways will soon open the Delhi to Kashmir rail route for public travel since the project is nearing completion and the railway bridge over the Chenab River in the district of Reasi on the Baramulla railway line is also almost finished. Read more here
Tata Motors EV subsidiary acquires Ford's Sanand plant for ₹726 crore
Tata Motors Sunday said its subsidiary Tata Passenger Electric Mobility Ltd (TPEML) has signed a Unit Transfer Agreement (UTA) for the acquisition of Ford India’s manufacturing plant at Sanand in Gujarat for ₹725.7 crore. Read more here
Economists expect India’s Q1 GDP growth at 12.5-15%
The Indian economy is likely to have grown in double digits in the first quarter of the current financial year, supported by strong revival in consumption and recovery in the services sector, and a low base, according to economists. With forecasts ranging between 12.5% and 15%, economists said private investment is yet to fully recover and rising interest rates led by monetary policy tightening may pose a challenge for additional investments in the manufacturing sector, while high inflation will keep corporate margins under pressure. Read more here
Exponent to pilot rapid charging for e-three-wheelers
Bengaluru-based Exponent Energy, backed by Hero MotoCorp chairman and chief executive Pawan Munjal’s family office, will launch the world’s fastest charging electric three-wheeler manufactured by last-mile transport firm Altigreen. Read more here
Shell Lubricants to sell EV battery coolants in India
Attracted by India’s electric vehicles play, global energy giant Shell Inc.’s subsidiary Shell Lubricants will launch fluids for EV motors suitable for the climatic and geographic conditions. Read more here
Trading segment leads Q1 beat for GAIL but Russian gas supply a worry
Near-term uncertainties around supplies from Russia are keeping markets cautious despite GAIL India Ltd reporting strong numbers for the quarter that ended in June. The stock continued its downwards journey and closed 5.17% lower Friday. Read more here
States flag their fiscal woes at NITI Aayog meeting
State leaders flagged their fiscal woes at NITI Aayog’s governing council meeting chaired by prime minister Narendra Modi on Sunday, even as the central government sought states’ cooperation in addressing issues in farming and education. Read more here
SBI hopes rising yields will drive companies to banks
State Bank of India (SBI) is counting on renewed interest from corporates for credit offtake as rising bond yields make market borrowings more expensive. With the interest rate cycle turning because of soaring inflation, bond yields have hardened in recent months, pushing up overall borrowing costs of companies in the debt market. Read more here
Carmakers roll out discounts to drive sales as festive season nears
Passenger vehicle makers are preparing to calibrate production and doling out discounts ahead of the festive season, at a time increased output has led to higher stocks at dealerships. Read more here
How to evaluate and select an asset manager
With the mainstreaming of portfolio management services (PMS) and alternative investment funds (AIFs), investors are spoilt for choice. Currently, there are over 365 portfolio managers and 900 AIFs registered with market regulator Sebi, and this number is increasing at an exponential rate. Read more here
